How to buy crypto (Bitcoin) at Beyond Bank?
With banks becoming more open to crypto, more and more people are wondering how to buy crypto with their bank account. Unfortunately, it is not yet possible to buy Bitcoin directly from Beyond Bank. However, by linking your account to a crypto exchange, you can still buy crypto with your bank account at Beyond Bank without any problems.
How to buy crypto at Beyond Bank?
Step 1: open an account with Beyond Bank
Before you can buy crypto, you must first link your bank account to a crypto exchange. In the overview below, you can immediately see which parties you can go to:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with Beyond bank after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Step 2: verify account & deposit money
Before you can invest with real money, you must first verify your account. To do this, upload a copy of your passport and a proof of your address. In many cases, you will also have to answer some questions about your past investing experience.
After your account is approved, you can immediately deposit funds using your Beyond Bank account. Within the crypto exchange, you will find the account number you can use. It is important that you use a bank account that is in the same name as your crypto account. If this is not the case, the deposit will be rejected and the money will be returned to your account.
Step 3: buy crypto with Beyond Bank
You can invest in various cryptocurrencies, for example:
- Bitcoin: the first crypto currency and still the dominant one
- Ethereum: this crypto allows for smart contracts.
- Dogecoin: this memecoin has become incredibly valuable, thanks in part to Elon Musk.
- Binance Coin: this is the crypto currency of the world’s largest crypto exchange.
These are just a few examples of crypto currencies you can invest in. There are thousands of cryptocurrencies of which only a fraction has any real value.
When you know which crypto you want to buy, you can select it directly within the platform. Then enter the amount you want to invest and press buy to send the order. Then wait a few seconds to minutes: if all goes well, you will now see the crypto returned within your crypto account.
What is Beyond Bank’s stance on crypto?
Beyond Bank is fortunately an open-minded bank: they allow customers to make deposits to crypto exchanges. Of course, the bank is supervised. It is therefore important to choose a reliable crypto exchange. That way, you prevent the bank from temporarily freezing your account to investigate a suspicious transaction.
About Beyond Bank
Beyond Bank is an Australian customer-owned bank. The bank operates in South Australia, Victoria, the Australian Capital Territory, Western Australia and New South Wales.
You can go to the bank for savings accounts, business accounts, loans, insurance and financial planning.
Can you buy Bitcoin at Beyond Bank?
It is currently not possible to buy Bitcoin & other crypto at Beyond Bank. It is also unknown when this feature will be added. Until then, you can follow the steps within this tutorial to still buy crypto using your bank account at Beyond Bank. Only do this with money you can afford to lose: that way, you will avoid regretting your crypto adventures.